Kuwait may impose taxes on luxury items and tolls tax on some highways
Kuwait is looking into imposing taxes on luxury items and introducing tolls on some highways as new sources of fiscal income that will help avoid budget deficits. Other measures being mulled over by the northern Arabian Gulf states include a review of the pricing of goods and public services, and of the fees collected by the state for services and land rental, Kuwaiti daily Al Rai reported on Sunday.
Currently, most public services are offered for free while goods are subsidised. A lift of the subsidies, partial or full, would boost non-oil income for the state, the daily added. The government might also impose taxes on all companies, instead of confining them to non-Kuwaitis. Kuwaiti companies would thus contribute to the cost of the goods and services subsidised by the state such as water and electricity as well the infrastructure. The companies will also contribute to paying the cost of the services provided by the state to their expatriate workers.
The plan also includes the introduction of a value-added tax (VAT) that will help limit the propagation of an extravagant lifestyle with a negative impact on families and a high risk of crippling debts. Under the plan, the government could introduce a toll on some highways, with the collected money used to repair and enhance the road infrastructure and for maintenance.
Kuwait will also work on collecting all arrears dues from Kuwaitis and expatriates, and could impose fines on those who do not pay the state on time. A new culture to honour financial commitments and to pay bills and fines on time will be introduced, Al Rai said.
Source : Gulf News
Kuwait News
- Events in Kuwait
- 65 deaths from road accidents in the first three months of 2022
- Meet the new HUAWEI WATCH KIDS 4 Pro
- Why the new HUAWEI nova 9 SE is the one to go for ?
- Vaccination Certificate must be updated before travel
- Kuwait returns staff capacity to 100% and no PCR is required for incoming passengers
- Liberation Tower is now open for the public to visit
- Proposal on health insurance of KWD 500/- does not covers 39 services for expats above 60
- No entry visa required from Jan 1, 2022
- The regional launch of the new Trendy Flagship and Camera King – HUAWEI Nova 9
- Cancellation of ‘no work permit renewal’ decision for 60s ruled out; KD 1,000 fee, high insurance on table
- The Philippines ends ban on workers travel
- Filipina maid arrested
- 5,000 passengers arrivals per day from May 22
- No curfew hours from 1st day of Eid
- Warn India deaths may double in coming weeks | COVID-19 forecasters
- Transfer of residence after 1 yr of work instead of 3 yrs
- Back to Cinemas, on Eid
- 215,000 expats left Kuwait in 2020
- 6,127 expats terminated; 1,840 more to be terminated
- 7 yrs imprisonment with 2,710,000 dinars fine plus deportation for Bangladeshi
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
